Good Morning! Today is Thursday, December 9. British government members are under fire for a video showing them laughing about attending a party last year when group gatherings were prohibited. President Biden ordered government agencies to phase out gas-powered vehicles. New Zealand wants to ban all cigarette sales by raising the legal smoking age.
And in mortgage and housing news…
Webinar Hot Topics: Millennials keeping the market hot, racial bias affecting home appraisals, and automated valuation technology were discussed on Tuesday during a webinar designed to address what mortgage professionals should expect in 2022 and beyond.
CFPB Finds Lending Violations: A CFPB report highlighted mortgage-related violations in 2021, including late fees charged to people in forbearance and discriminatory lending practices. “Today’s report reveals that irresponsible or mismanaged firms harmed Americans during the COVID-19 pandemic,” said CFPB Director Rohit Chopra. “We will continue to supervise firms to halt harmful practices before they become widespread.”
Millennial Spending: A Hometap survey found Millennials are spending more of their monthly income on homeownership costs than other generations and are at the greatest risk of becoming house-rich and cash-poor.
“Lasting, Holistic, Meaningful Change”: Amazon is committing $21 million to a training and funding program for real estate developers of color in its hometown communities.
Fannie’s Green MBS Volume: Fannie Mae’s green multifamily MBS issuance has surpassed $100 billion and is set to nearly match last year’s $13 billion for 2021.
Fighting Appraisal Bias: A survey from Coldwell Banker Real Estate found 41% of employed Americans would be willing to take a pay cut or accept a new job with a lower salary in order to move to a more affordable location.
ERA Expanding: ERA Real Estate announced its expansion in Wisconsin through ERA MyPro Realty, a firm serving the Greater Milwaukee area.
InstaMortgage + OptiFunder: InstaMortgage (formerly Arcus Lending) will use OptiFunder Warehouse Management System to streamline its funding activities.
Zillow’s Hot Takes: Zillow predicts 2022 will be a huge year for real estate, with more home sales than any year since 2008 and home values growing by 11%.
Fathom Academy: Fathom Realty is launching Fathom Academy, a learning management system designed to boost company training and collaboration.
Better.com Firing Fallout: Three Better.com execs have resigned as a result of public outcry following its brutal layoff of 900 workers over Zoom.